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lime replacement andfence and playground section replacement for example. <br />171 <br />They address safety concerns like playground surface replenishing, and field <br />172 <br />upgrades.Plus they also help to maintain community expected standards <br />173 <br />such as repairing parkamenities, sign maintenance, and the color coating of <br />174 <br />tennis courts. <br />175 <br />Why is it important? <br />176 <br />The PIPaccount is currently managed as a “rollover account” allowing a more <br />177 <br />strategic approachby rolling thecumulative balance forward until the project <br />178 <br />is compete. This fund and the flexibility it allows areimportant to operations. <br />179 <br />Where can I find out more about it? (URL) <br />180 <br />https://www.cityofroseville.com/768/Budgets-Annual-Reports <br />181 <br />182 <br />Parks and Recreation Renewal Funds <br />183 <br />What are they? <br />184 <br />The parkand recreation renewal programprojects began onMay 31, 2014. It <br />185 <br />was funded using a $19 million bond. Although nearing the program’send, <br />186 <br />there is about $400,000 left in the park renewal fund account and some of this <br />187 <br />will be used for ongoing projects. <br />188 <br />Note:There are outsidegenerally accepted accounting principles on <br />189 <br />borrowing money for city use. Borrowed money should be spent within about <br />190 <br />3 years (rule of thumb for generally accepted practice). In the case of current <br />191 <br />parkand recreation renewal funds, we havepassedthe 3 year markbut the <br />192 <br />projects have been identified and in most cases contracted out with the goal <br />193 <br />of making the funds go further, using the money wisely and not being overly <br />194 <br />rushed just to spendit. Internal talks have been ongoing on how to spendany <br />195 <br />remaining funds wiselyto meetthe principlesand the spirit in which it was <br />196 <br />intended. <br />197 <br />Southwest Roseville pocket park at Cleveland and Co Rd. B and 1716 Marion <br />198 <br />Street pocket parkarebothbeneficiaries of this planning. <br />199 <br />Why is it important? <br />200 <br />The Parks and Recreation Renewal programwas a major financial <br />201 <br />commitment by the City Council and Roseville citizens to maintain and <br />202 <br />upgrade our parksand recreation system. These funds have been used for <br />203 <br />the Parks and Recreation Renewal Program thatis described in a section <br />204 <br />below. <br />205 <br />206 <br />Park Dedication Ordinance and Fees <br />207 <br />What is it? <br />208 <br />The City of Roseville and other communitiescommonlyrequirenew <br />209 <br />residential, commercial or industrial development to either dedicate land for <br />210 <br />park space, to pay a fee in lieu of dedicating landor a combination of each <br />211 <br />6 <br />14 <br /> <br />